Fundable is a crowdfunding platform dedicated to helping companies raise capital from investors, customers, and friends, and has generated $615 million in funding. The platform takes pride in its hands-on approach, helping business owners through campaign launch and each step of the fundraising process.
Setting up a Fundable fundraiser for your business is quick, easy, and free, and you can choose a rewards or equity campaign, allowing you to tailor your fundraising to your needs, as well as those of your customers or investors.
Continue reading for a full review of the crowdfunding platform, or jump down to Fundable reviews from real customers.
Companies using Fundable can choose between two types of fundraising campaigns:
Fundable's options allow you to choose the best campaign model for your needs and business growth.
Once you submit a profile on Fundable it will typically take 2 to 3 days to be approved. The Fundable team will review your campaign and ensure that all sections are complete and meet the Terms of Service. As long as all sections have been completed and all conditions are met, your campaign should be approved.
Fundable does not have a specific cap or maximum amount of how much you can raise. The company recommends $50,000 max if a customer is using the Rewards model and anything $50,000 and over if using the Equity model.
There is no minimum or maximum duration for fundraising with Fundable. With Equity fund types, an investor's commitment will need to be renewed every 90 days. Each campaign is unique so clients have the flexibility to work with the Fundable team for as long as they need to.
In comparison to other crowdfunding platforms, Fundable has competitively low fees. Fundable charges the following fees:
It is important to note that it is free to create a company profile on Fundable, and there are no success fees - whatever money you collect is all yours.
How funds are received depends on the funding model selected. At the end of the Rewards campaign, all funds are automatically collected and transferred to the customer's business bank account. With an Equity campaign, all commitments are processed offline after the close of fundraise.
Fundable's team takes a very hands-on, step-by-step approach from profile creation to marketing to help companies understand the fundraising process and launch their funding campaigns. Whether creating a profile or revamping a marketing strategy, a member of the Fundable team is there to offer assistance. This approach is delivered based on the fact that the founders of Fundable have personal experience raising money and are familiar with the process.
Therefore, Fundable can offer personal expertise to their clients. Administrative assistance from Fundable comes in the following ways:
Although Fundable reviews are limited, the majority of reviews are 5-star. Satisfied customers most frequently highlight exceptional customer service and low upfront costs in comparison to the deliverable. In addition, most customers say that they would recommend Fundable to friends or other business owners.
Fundable only uses an "all or nothing" fundraising approach for the Rewards raise model. This means that you must meet or surpass your fundraising goal or you can't collect any funds.
For equity campaigns, fundraises comes down to what the goal amount is that a company needs to move their business forward and foster continued growth — these transactions aren't facilitated through Fundable, but are instead made through investors.
Fundable isn't able to offer its crowdfunding services to companies without a U.S. presence. However, it is acceptable if your company is headquartered elsewhere as long as your are registered in the U.S. This means that you must have a U.S. bank account, address, and social security number or business tax ID number.